Virco Mfg. (NASDAQ:VIRC) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Virco Mfg. (NASDAQ:VIRC) posted its earnings results on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative return on equity of 2.63% and a negative net margin of 0.89%.

NASDAQ:VIRC traded down $0.03 during trading hours on Wednesday, hitting $3.50. The stock had a trading volume of 328 shares, compared to its average volume of 33,213. The business has a 50 day simple moving average of $3.52 and a two-hundred day simple moving average of $3.37. Virco Mfg. has a 1-year low of $1.94 and a 1-year high of $4.61. The company has a current ratio of 2.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The company has a market cap of $55.72 million, a PE ratio of -39.11 and a beta of 1.36.

Several research firms have issued reports on VIRC. TheStreet upgraded shares of Virco Mfg. from a “d+” rating to a “c” rating in a research note on Monday, June 14th. Zacks Investment Research raised Virco Mfg. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th.

An institutional investor recently raised its position in Virco Mfg. stock. Morgan Stanley raised its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,401 shares of the company’s stock after purchasing an additional 21,400 shares during the quarter. Morgan Stanley owned 0.13% of Virco Mfg. worth $73,000 at the end of the most recent quarter. 20.53% of the stock is owned by hedge funds and other institutional investors.

Virco Mfg. Company Profile

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.

Further Reading: Cash Asset Ratio

Earnings History for Virco Mfg. (NASDAQ:VIRC)

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